Helpful Financial Planning Tips
Our blog is filled with smart financial strategies to help you build a solid foundation moving forward into the future.
SECURE 2.0 Act Enhancements Across the Retirement Continuum
SECURE 2.0 Act Enhancements Across the Retirement Continuum
Whether you have student loans, need to catch up in the final years before retirement, are facing taking required minimum distributions in retirement, or want to enact a charitable giving strategy, new rules create a smoother path.
5 Steps to Budgeting
Making a budget might seem overwhelming at first, but hear this: You can do it. How? By breaking down the process a bit.
What Is a Budget?
Real quick though, let’s define the word budget. A budget is just a plan. It’s not a restriction on spending—it’s a plan for what you’ll do with your money. It’s a plan for what’s coming in and what’s going out.
When you learn how to make a budget—and do it every month—you’re giving your money purpose. You’re taking control. Goodbye, money anxiety. Hello, money goals.
Small Business Retirement Plans— SIMPLE, SEP-IRA and SOLO 401(k)
Small companies shouldn’t forgo retirement savings just because a 401(k) plan can be expensive to set up and maintain. There are options specifically for smaller businesses: a Savings Incentive Match Plan for Employees (SIMPLE) plan, a Simplified Employee Pension (SEP) plan, and a SOLO 401 (k).
How Do You Create a Retirement “Paycheck?”
“How do I get my money out of my retirement plan and into my checking account?”
The question is not as simple as it appears – that’s why people ask it. They’re not asking about the mechanics of a 401(k) withdrawal. They want to understand the switch from saving to spending, and it’s an entire cascade of questions covering how to decumulate assets in retirement. These include:
• When should I take social security?
• How can I ensure I’ll have enough income for my needs?
• How can I invest for growth without taking too much risk?
• What about taxes?
Planning for the Five Big Tax Challenges in Retirement
Creating a retirement paycheck that generates the income you need while keeping you in the lowest possible tax bracket isn’t as easy as it seems. All the planning you did while working – like saving retirement funds in tax-deferred accounts and diversifying by purchasing a second home, can turn into tax bombs as you move through retirement.
The consequences of higher income aren’t limited to a bigger tax bill – they can also include expensive Medicare surcharges.
What’s the solution?
Do You Need a Budget in Retirement?
You saved diligently, invested carefully, and now you have a sizeable nest egg that can most likely replace 80% of your pre-retirement income. Why should you go through the tiresome process of creating a budget?
The College Payment Puzzle for High-Earning Families
Those four years when your child is in college can be a rollercoaster ride, but the scariest part for high-earning parents can be figuring out how to pay for it. It can be tempting to put your own goals on hold while you shoulder the big-but-temporary new burden. In this blog we discuss strategies for paying for college and having a plan to pay for 4 years of college down to the penny.
Being Intentional through Budgeting and Working with an Advisor
“A budget is telling your money where to go instead of wondering where it went.”—Dave Ramsey
Understanding Student Loans
Expand Your Student Loan Knowledge This is material I thought would be worth sharing courtesy of my Financial Planning Software Provider RightCapital. We believe it is important to be an informed consumer of college education and want people to have an...
Covid and the Elections
Covid and the 2020 Elections Less than one week until the elections and the number of cases have risen. These are the headlines we see all of the time which may have you question what you are doing with your wealth. Scary to think about sometimes, but when it...
When does mortgage refinancing make sense?
[activecampaign form=1]Related ArticlesWould You Like Help Creating A Plan For Your Child's College Fund Or Your Own Retirement Needs?We Help Families & Individuals Create Financial Plans For Success.Mark Kelly, Certified Fee-Only Raleigh Financial Planner™Check...
Learn How to Remove Items From Your Credit Report
Learn How to Remove Items From Your Credit Report Credit is an important part of most people’s lives. It lets lenders know how trustworthy you are with borrowing money. This includes everything from a personal loan to a big financial commitment like a home mortgage. ...
DID YOU KNOW? WHY THE S&P 500 MAY NOT BE A GOOD BENCHMARK FOR YOUR INVESTMENTS
Why a Cap Weighted Index can skew results We believe in Financial Planning first with your Investment Portfolio as the resource to help fund your goals. We also believe emotions impact whether a client can achieve their goals, so our job is to help guide...
Advantages and Disadvantages of Various Student Loans
Every wonder what the amount of debt on your student loan translates in terms of payment? Watch our Video above to see how knowing in advance and being intentional with how you pay for college can have a tremendous impact on both the student who graduates with Student...
Coronavirus: Being prepared if money becomes tight
Corona Virus- Don't live in FEAR. Coronavirus which also is known as COVID 19 is all anyone is talking about. From Social Media, to Cable News it has created hysteria and panic across the globe. I would not be telling the truth if it has not made me think how this...
Investment Implications of COVID 19
Investment Implications of COVID 19 and tempting you to "Do Something"? It still is not easy listening to the news the last few weeks and watching the large swings in the Stock Market. Obviously, the Financial Markets don't like bad news. Does all of this make you...
Corona Virus and Managing Investor Emotions
Is the Corona Virus and Market Volatility tempting you to "Do Something"? It is not easy listening to the news the last couple of weeks and watching the large swings in the Stock Market. Obviously, the Financial Markets don't like bad news. Does all of this make...
An informed consumer of College Education- Family Portal
With Student Loan debt surpassing $1.6 Trillion families need to be an educated consumer of a college education. The Family Portal is a step to helping families figure out how to pay for 4 years of college down to the penny.
Funding Plan Example of How to Pay for College
See how we interactively help you plan to pay for college. At University Financial Strategies we are focused on helping college bound families be an educated consumer of a college education. We use the College Pre-Approval Process and can help you make smart...
How America Pays for College
We are just a couple of weeks away from FAFSA being available for Seniors in High school, so I wanted to share a couple of take aways from a research paper put out by Sallie Mae. In the research paper it details how we are paying for college in the US. Specifically...
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At University Financial Strategies our mission is to help families think beyond just saving for college, but helping leverage strategies that leverage your unique situation to help you save on college costs. We take into consideration topics like specialized college-planning strategies for business owners, planning for financial aid, school-specific scholarships, coordinating college planning with grandparents, cash-flow strategies and options for covering shortfalls, to name just a few.
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